Ford Motor Company (F): Ford gains on report of more EV investin...

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Re: puffadder post# 19666

Tuesday, 02/01/2022 6:08:48 PM

Tuesday, February 01, 2022 6:08:48 PM

Ford gains on report of more EV investing, potential spinoff

Feb. 01, 2022 2:10 PM ETFord Motor Company (F), GM

By: Clark Schultz, SA News Editor

Ford (F +1.1%) is expected to spend as much as $20B to prepare for its electrification push, according to Bloomberg. That investment amount is on top of the $30B the company has previously disclosed as part of a comprehensive electric vehicle commitment through 2025.

The automaker's new plan includes a rethinking of the organizational chart at the company, as well as hiring new engineers that specialize in everything from battery chemistry to artificial intelligence and electric vehicle software.

Sources say as part of the reorganization, Ford (NYSE:F) is considering a spinoff of a small portion of its electric vehicle business to capture some of the value investors who are applying to electric startups. That same line of thinking has also been part of the investing thesis on General Motors (NYSE:GM) with its Cruise division.